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PL EN

Journal

Central European Review of Economics & Finance

2018 | 25 | 3 | 51-65

Article title

An estimate of the impacts of the Bank of England’s quantitative easing programme on UK economic growth

Authors

Bukowski, Sławomir Ireneusz , Gowers, Robin

Content

Full texts:

Title variants

Languages of publication

Abstracts

EN
This paper reviews the reasons for and impacts of quantitative easing by the Bank of England.  It analyses the macroeconomic impacts of this policy tool on the UK economy across the period 2008-16.  It compares the impacts of each round of quantitative easing to assess how the impacts changed over time. The authors implemented econometric analysis based on the VAR model. This analysis indicated that the Bank of England’s monetary policy influenced GDP growth by a relatively small degree during the period studied. The impact of changes in the monetary base (M3) explained a bigger part of GDP growth than the decreases in interest rates and exchange rates.  Over time the impact of this policy response diminished.

Keywords

Publisher

Instytut Naukowo-Wydawniczy "SPATIUM"

Journal

Central European Review of Economics & Finance

Year

2018

Volume

25

Issue

3

Pages

51-65

Physical description

Contributors

author
Bukowski, Sławomir Ireneusz
author
Gowers, Robin

References

Document Type

Publication order reference

Identifiers

YADDA identifier

bwmeta1.element.oai-ojs2-ceref-pl-article-77
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